Question
24.A $100,000 bond was retired at 96 when the carrying amount of the bond was $105,000. The entry to record the retirement would include a:
24.A $100,000 bond was retired at 96 when the carrying amount of the bond was $105,000. The entry to record the retirement would include a:
-gain on bond redemption of $4,000.
-loss on bond redemption of $8,000.
-loss on bond redemption of $4,000.
-gain on bond redemption of $9,000.
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Financial & Managerial Accounting
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
13th edition
9781133607618, 978-1285868776
